Bayer’s CEO cut manager ranks by 70%. Now comes the hard part

Bayer's CEO, Werner Baumann, has cut the number of managers by 70% as part of a restructuring plan to improve the company's performance.

The Fortune report also mentions that the company is planning to cut 12,000 jobs worldwide, with the majority of the cuts coming from its agriculture division.

The restructuring plan is expected to save the company around €2 billion annually by 2024.

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